Slide 1: 1H22 Results
1H22 Results 17 February 2022
Slide 2: Disclaimer and basis of preparation
Disclaimer and basis of preparation Disclaimer This publication is prepared by the Transurban Group comprising Transurban Holdings Limited (ACN 098 143 429), Transurban Holding Trust (ARSN 098 807 419) and Transurban International Limited (ACN 121 746 825). The responsible entity of Transurban Holdi
Slide 3: Contents
Contents 4 18 28 38 40 Section 1 Section 2 Section 3 Section 4 Section 5 1H22 Market Financial Outlook Supplementary highlights updates results information
Slide 4: Section 1: 1H22 highlights
Section 1: 1H22 highlights Transurban
Slide 5: 1H22 highlights
1H22 highlights Traffic continued to be impacted by government-mandated restrictions related to COVID-19, however in most markets traffic recovered in the second quarter, in (4.8%) $5.6B line with the easing of restrictions. Proportional revenue broadly flat compared to the prior comparable period d
Slide 6: Near-term interest rate protection
Near-term interest rate protection1 Debt hedging profile and inflation linked toll escalations and provide protection in a rising interest rate environment and would likely result in a net benefit over the near term Embedded CPI escalation across 68% of revenue2,3 Illustrative cumulative short term
Slide 7: 1H22 traffic overview
1H22 traffic overview • Traffic for the Group declined period-on-period, with Quarterly ADT1 (million trips per day) Car traffic Delta variant disruptions in 1Q22 partly offset by the Large vehicle traffic easing of government restrictions during 2Q22 as vaccination rates improved • Sydney performan
Slide 8: Weekly traffic data
Weekly traffic data1 Sydney weekly traffic vs two years prior (%) Melbourne weekly traffic vs two years prior (%) Week commencing Week commencing 3-Jan 31-Jan 28-Feb 28-Mar 25-Apr 23-May 20-Jun 18-Jul 15-Aug 12-Sep 10-Oct 7-Nov 5-Dec 2-Jan 30-Jan 3-Jan 31-Jan 28-Feb 28-Mar 25-Apr 23-May 20-Jun 18-Ju
Slide 9: COVID-19 current status
COVID-19 current status Daily patients in hospital with COVID-19 in Australia Current government responses to COVID-195 and North America by region1,2,3,4 Category of Victoria6 New South Wales7 Queensland8 Fairfax County, Quebec10 government Virginia9 responses Face mask Required indoors and on Requ
Slide 10: Future mobility
Future mobility1 Transurban is continuing to invest in understanding key trends in current and future mobility. Organic traffic growth is expected to continue over time, underpinned by market fundamentals More people surveyed in Australia expect to use private transport daily Flexible working will r
Slide 11: Transurban investment proposition
Transurban investment proposition Leading global toll 21 assets located in Weighted average Seven projects Long-term road developer five markets with concession life of currently in relationships with and operator quality structural ~30 years development governments growth drivers or delivery and st
Slide 12: Investing for the long-term
Investing for the long-term Building a long-term sustainable business model Investment discipline and operational excellence • Expansion from 7 to 21 assets over the last decade through disciplined Business snapshot investment and active management of the portfolio. This has resulted in a FY00 FY10
Slide 13: Opportunity pipeline
Opportunity pipeline Long term investment horizon and pipeline of opportunities in core markets enables Transurban to take a disciplined approach in growing the portfolio REGION POTENTIAL OPPORTUNITIES1 NEXT 5 YEARS 5+ YEARS Brisbane Sydney M7 staged widening and M7/M12 interchange Western Harbour T
Slide 14: ESG highlights
ESG highlights ESG considerations are integrated across all elements of strategy, planning and operations, underpinning the long-term sustainability of the business Progress on emission reduction initiatives Positive impact on local communities • Transurban has a detailed plan to achieve Net Zero by
Slide 15: Customer experience
Customer experience Transurban has around nine million customers across five markets and continually focuses on improving the experience across the customer lifecycle to deliver a quicker, safer and more reliable driving experience Customer growth Growth in Australian account- • 5.8M Australian acco
Slide 16: Transport moving forward
Transport moving forward Shifting trends in the transportation landscape offer the opportunity to rethink road funding • The continued decline in the proceeds from the fuel excise over time due to Low and Zero Emissions Vehicles, as well as continued efficiency improvements in internal combustion en
Slide 17: Road funding opportunities
Road funding opportunities Short term opportunities Possible transition towards road-user charging (RUC) model • Exploring the use of decision-point signage to provide choice to customers, making • Under the current taxation system, motorists with older and less economical it easier for motorists to
Slide 18: Section 2: Market updates
Sectiog} 2s Market updates Transurban
Slide 19: Sydney market update
Sydney market update 1H22 performance • Car traffic decreased by 27.6% and large vehicle traffic decreased by 4.7%, driven by Greater Sydney and regional lockdowns throughout July–October (14.0%) 45.3% • Proportional toll revenue decreased by 14.0% to $527 million, including new assets1 Toll revenue
Slide 20: Sydney portfolio and pipeline
Sydney portfolio and pipeline Near-term asset enhancement opportunities • The M7-M12 Integration and Delivery project (including widening works in the M7 central median) is currently in Stage 2 of the NSW Government’s unsolicited proposals process and remains subject to assessment by the NSW Governm
Slide 21: Melbourne market update
Melbourne market update 21.2% 27.0% 1H22 performance • CityLink traffic increased by 20.6% when compared to a heavily restricted period in 1H21. Western Link experienced higher COVID-19 impacts than Southern Link due to greater airport traffic exposure • Car traffic increased by 27.7% and large vehi
Slide 22: Melbourne portfolio and pipeline
Melbourne portfolio and pipeline Potential market opportunities • North East Link potential monetisation Victorian infrastructure project updates • North East Link project—contract awarded for the tunnelling package in late 2021. Early works have continued with further construction packages expected
Slide 23: Brisbane market update
Brisbane market update 1H22 performance • Car traffic increased by 3.2% and large vehicle traffic increased by 6.5% 6.7% 19.3% • Proportional toll revenue increased by 6.7% to $224 million Operations, development and delivery Toll revenue Brisbane toll revenue • Transition of all Brisbane operations
Slide 24: Brisbane portfolio and pipeline
Brisbane portfolio and pipeline Near-term asset enhancement opportunities • Gateway and Logan Motorway widening Potential market opportunities • Broader network enhancements including in relation to Brisbane 20321 Queensland infrastructure project updates • Bruce Highway upgrade—currently in plannin
Slide 25: North America market update
North America market update1 1H22 performance • Traffic on the Express Lanes increased by 43.9% 17.0% 8.4% • A25 traffic increased by 12.8% with car traffic increasing by 13.7% and large vehicle traffic increasing 6.7% Toll revenue North America toll • Proportional toll revenue increased by 17.0% to
Slide 26: Greater Washington Area projects update
Greater Washington Area projects update Phase 1 Maryland Express Lanes Project 495 Northern Extension • Pre-development work and community engagement advancing • Commercial close with VDOT reached during 1H22 with Lane • Selection of D&C subcontractor(s) expected in the June quarter of 2022 Construc
Slide 27: Greater Washington Area portfolio and pipeline
Greater Washington Area portfolio and pipeline Potential market opportunities • Asset enhancement opportunities across GWA assets, with additional expansion opportunities and potential for third-party asset divestments across both traditional toll roads and managed lanes • VDOT exploring the souther
Slide 28: Section 3: Financial results
Section 3: Financial results
Slide 29: 1H22 financial performance snapshot
1H22 financial performance snapshot1 1H22 1H22 VS. 1H21 Gross Distributions $461 million 12% Free Cash (incl. Capital Releases) $459 million (2%) Proportional toll revenue $1,163 million (0%) Total proportional costs $417 million 10% Proportional EBITDA $805 million (4%) Proportional EBITDA margin 6
Slide 30: Free Cash movement
Free Cash movement Interim distribution is 100% covered by Free Cash Flows, excluding capital releases (1.6%) 58 49 12 467 (46) 459 461 14 Melbourne (81) 35 Sydney (16) Brisbane (9) North America (24) Corporate 1H21 Free Cash EBITDA 100% Distributions Net finance costs Maintenance and Working capita
Slide 31: Statutory results
Statutory results1 (106) 137 (107) 21 355 14 (13) (448) (59) (6) 1H21 Loss from Toll revenue Other revenue Operating Depreciation & Net finance costs Loss from equity Income Discontinued 1H22 Loss from continuing and expenses amortisation accounted tax benefit operations continuing discontinued inve
Slide 32: Proportional results
Proportional results (4.1%) (4.0%) (5) 840 21 (46) 23 806 805 (27) (1) New assets Divestment 1H21 EBITDA Toll revenue Other revenue Direct costs New assets/ 1H22 EBITDA (ex. FX) FX 1H22 EBITDA divestment1 1. New assets include additional 4 months of NorthConnex operations and additional ownership in
Slide 33: Proportional cost movement
Proportional cost movement Operational cost increase of 5.6% primarily due to increase in insurance premiums and investing in new capabilities 10.4% 418 (1) 417 5.6% 19 (5) 399 26 • Accounting 378 related increase: – reclassification • Operational costs of Software as increase: a Service3 – capabili
Slide 34: Proportional EBITDA margins
Proportional EBITDA margins1 Margins across the Group have been generally impacted by restrictions in movement related to COVID-19 FY20 1H21 2H21 FY21 1H22 Illustrative margin impacts 1H22 1H22 Group EBITDA margin Sydney 82.0% 79.8% 81.9% 80.9% 73.5% 67.5% (excl. accounting adjustments) Accounting a
Slide 35: Funding summary
Funding summary JUN 21 DEC 21 • At 31 December 2021 the Group had $3.8 billion in corporate liquidity, comprising $1.1 billion Group debt1,2 $20,763M $23,077M of cash and $2.7 billion of undrawn borrowing facilities – In addition, Transurban currently expects to receive more than $2.3 billion of pot
Slide 36: Financial considerations
Financial considerations FY22 Capital Releases • Portfolio performance will remain sensitive to future • Transurban currently expects to receive more than $2.3 billion of potential Capital government responses to COVID-19 and overall economic Releases between FY22 and FY25 conditions • Expected Capi
Slide 37: Capital management approach
Capital management approach Balance sheet provides Resilient cash Long-term growth in Funding risk mitigation optionality for investment in flows underpinned Free Cash to fund and diversification new opportunities by essential distributions infrastructure Corporate liquidity and Cashflows during 1H2
Slide 38: Section 4: Outlook
Section 4: Outlook Transurban
Slide 39: Outlook
Outlook Expecting traffic High-quality Strength of the FY22 distribution Continual focus on Debt hedging to recover in line pipeline of both balance sheet expected to be in improving every profile and with the easing greenfield and provides options line with Free Cash, step of the inflation-linked t
Slide 40: Section 5: Supplementary information
Section 5: Supplementary information
Slide 41: WestConnex
WestConnex Increased exposure to one of the largest road infrastructure projects in the world M4-M5 Link Tunnels (Stage 3A) update • On 20 September 2021, Transurban announced that STP JV will acquire the remaining 49% • Tunneling excavation is now fully complete with a total of equity stake in West
Slide 42: Sydney toll road network
Sydney toll road network Different tolling regimes across the Sydney toll road network • Sydney market was progressively developed over multiple decades, reflecting the different tolling policy from both Labor and Liberal National governments at the time 1930s • Tolled Sydney Harbour Bridge opens •
Slide 43: West Gate Tunnel Project progress update
West Gate Tunnel Project progress update Well positioned to deliver value for Victorian road users Construction progress • The West Gate Tunnel Project is a critical infrastructure project for • As of February 2022, over 29 million worker hours have been clocked Melbourne, providing a vital alternat
Slide 44: Environmental, Social and Governance
Environmental, Social and Governance
Slide 45: ESG investment proposition
ESG investment proposition Transurban is committed to strengthening communities through transport. Providing leadership and taking action on environmental, social and governance factors is fundamental to upholding the values of the Group and to ensuring the ongoing success and sustainability of the
Slide 46: Climate change program
Climate change program Current and future climate-related risk management priorities Scope 1 and 2 emissions: Scope 1 and 2 emissions: 50% reduction by 2030 net zero emissions • Transition to zero-emission fleet • Ongoing lighting upgrades and delivery of ventilation optimisation program Transition
Slide 47: 1H22 ESG progress
1H22 ESG progress Continued progress against key long-term ESG priorities over the period with 1H22 initiatives focused on supporting employees, customers and communities, and action on climate change Environmental Social Governance • Progressing commitment to net zero GHG emissions • Linkt Assist e
Slide 48: Health and safety
Health and safety Our Contractor Road people safety safety safety • Ongoing management of COVID-19 related health • Contractor Recordable Injury Frequency Rate • RICI1 tracking below target of 4.25 for 1H22 and safety risks continued throughout the period (RIFR) is tracking below target of 4.20 for
Slide 49: Detailed financials
Detailed financials Transurban
Slide 50: Traffic and revenue performance
Traffic and revenue performance DEC 21 QUARTER1 1H221 PROPORTIONAL ADT ADT LARGE VEHICLE PROPORTIONAL ADT ADT LARGE VEHICLE TOLL REVENUE % CHANGE % CHANGE CAR TRAFFIC TRAFFIC TOLL REVENUE % CHANGE % CHANGE CAR TRAFFIC TRAFFIC % CHANGE vs DEC 20 vs DEC 19 % CHANGE % CHANGE % CHANGE vs 1H21 vs 1H20 %
Slide 51: Traffic and revenue data
Traffic and revenue data1 % LARGE VEHICLE ASSET DEC 20 QUARTER DEC 21 QUARTER % CHANGE 1H21 1H22 % CHANGE TRAFFIC2 SYDNEY M2 Total Toll Revenue (M) $77 $77 (0.6%) $147 $119 (19.1%) N/A Average Daily Trips (‘000) 127 120 (5.7%) 121 90 (25.9%) 8.7% M5 West Total Toll Revenue (M) $77 $73 (5.3%) $150 $1
Slide 52: Traffic and revenue data
Traffic and revenue data1 % LARGE VEHICLE ASSET DEC 20 QUARTER DEC 21 QUARTER % CHANGE 1H21 1H22 % CHANGE TRAFFIC2 MELBOURNE CityLink Total Toll Revenue (M) $151 $177 17.2% $259 $313 21.2% N/A Average Daily Transactions (‘000) 561 641 14.3% 458 552 20.6% 25.4% BRISBANE Gateway Motorway Total Toll Re
Slide 53: Traffic and revenue data
Traffic and revenue data1 % LARGE VEHICLE ASSET DEC 20 QUARTER DEC 21 QUARTER % CHANGE 1H21 1H22 % CHANGE TRAFFIC2 NORTH AMERICA 95 Express Lanes Total Toll Revenue (USD M) $13 $30 125.8% $23 $60 158.8% N/A Average Daily Trips (‘000) 36 54 49.2% 36 55 52.4% N/A3 495 Express Lanes Total Toll Revenue
Slide 54: Traffic data vs 1H20
Traffic data vs 1H20 ASSET DEC 19 QUARTER DEC 21 QUARTER % CHANGE 1H20 1H22 % CHANGE SYDNEY Hills M2 Average Daily Trips (‘000) 131 120 (8.9%) 132 90 (32.2%) M5 West Average Daily Trips (‘000) 162 153 (5.6%) 162 120 (26.1%) Lane Cove Tunnel/MRE Average Daily Trips (‘000) 89 76 (15.2%) 90 57 (36.9%)
Slide 55: Proportional toll revenue by asset
Proportional toll revenue by asset DEC 21 QUARTER ($M) 1H22 ($M) OWNERSHIP 100% PROPORTIONAL 100% PROPORTIONAL M2 100% $77 $77 $119 $119 M5 West 100% $73 $73 $118 $118 LCT 100% $22 $22 $33 $33 CCT 100% $16 $16 $25 $25 ED 75.1% $34 $26 $51 $39 M7 50% $106 $53 $178 $89 NorthConnex1 50% $33 $16 $52 $26
Slide 56: Statutory results
Statutory results 1H21 ($M)1 1H22 ($M) % CHANGE Toll revenue 1,069 1,056 (1.2%) Construction revenue 290 167 (42.4%) Other revenue 64 78 19.9% Total revenue 1,423 1,301 (8.7%) Employee benefit expense (131) (152) (16.5%) Road operating costs (163) (172) (5.5%) Construction costs (290) (167) 42.4% Tr
Slide 57: Reconciliation of statutory EBITDA to proportional EBITDA
Reconciliation of statutory EBITDA to proportional EBITDA 1H21 ($M) 1H22 ($M) % CHANGE Statutory EBITDA 792 734 (7.5%) Less: EBITDA attributable to non-controlling interest—ED (12) (9) (31.5%) Less: EBITDA attributable to non-controlling interest—TQ (93) (97) 4.2% Less: Intragroup elimination1 (3) (
Slide 58: 1H22 proportional result by asset
1H22 proportional result by asset TOLL OTHER EBITDA (excluding NET FINANCE INCOME REVENUE REVENUE significant items) EBITDA D&A COSTS NPBT TAX NPAT OWNERSHIP ASSET $M $M $M $M $M $M $M $M $M 100% M2 119 1 93 93 (37) (17) 39 10 49 100% M5 West 118 1 95 95 (134) (9) (48) (22) (70) 100% LCT 33 - 16 16
Slide 59: 1H21 proportional result by asset
1H21 proportional result by asset TOLL OTHER EBITDA (excluding NET FINANCE INCOME REVENUE REVENUE significant items) EBITDA D&A COSTS NPBT TAX NPAT OWNERSHIP ASSET $M $M $M $M $M $M $M $M $M 100% M2 147 1 122 122 (39) (23) 60 1 61 100% M5 West 150 3 131 131 (135) (12) (16) (31) (47) 100% LCT 44 - 26
Slide 60: 1H22 net finance costs paid
1H22 net finance costs paid NON-CASH ITEMS STATUTORY DISCOUNT PROPORTIONAL NET UNWINDS & INTEREST INTEREST NET INTEREST NET INTEREST INTEREST DEBT FEES REVALUATIONS1 CAPITALISATION2 OTHER3 ACCRUALS4 PAID PAID CONTROLLED ENTITIES OWNERSHIP $M $M $M $M $M $M $M $M M2 100% (17) 1 2 - - - (14) (14) M5 W
Slide 61: 1H21 net finance costs paid
1H21 net finance costs paid NON-CASH ITEMS STATUTORY DISCOUNT PROPORTIONAL NET UNWINDS & INTEREST INTEREST NET INTEREST NET INTEREST INTEREST1 DEBT FEES REVALUATIONS2 CAPITALISATION3 OTHER4 ACCRUALS5 PAID PAID CONTROLLED ENTITIES OWNERSHIP $M $M $M $M $M $M $M $M M2 100% (23) - 9 - - - (14) (14) M5
Slide 62: Maintenance provision
Maintenance provision MAINTENANCE EXPENSE RECOGNISED1 MAINTENANCE CASH SPEND CONTROLLED ENTITIES 1H21 ($M) 1H22 ($M) 1H21 ($M) 1H22 ($M) M2 (3) (4) (5) (2) M5 West (3) (3) - (1) LCT (3) (3) (3) (2) CCT (2) (3) (2) (2) CityLink (12) (12) (7) (8) A25 (2) (2) - (4) 95 Express Lanes2 (11) - (2) - 495 Ex
Slide 63: Free Cash calculation
Free Cash calculation FREE CASH CALCULATION SOURCE OF INFORMATION/EXPLANATION Cash flows from operating activities Statutory Transurban Holdings Limited Group operating cash flow (refer Group Statutory accounts) Add back transaction and integration costs related to acquisitions and Transaction and i
Slide 64: Free Cash
Free Cash Reconciliation of statutory cash flow from operating activities to Free Cash 1H21 ($M) 1H22 ($M) 1H21 1H22 % CHANGE Cash flows from operating activities 411 366 Free Cash $467M $459M (1.6%) Weighted average securities eligible Add back transaction and integration costs related to acquisiti
Slide 65: Reconciliation of proportional EBITDA to Free Cash
Reconciliation of proportional EBITDA to Free Cash 1H22 ($M) COMMENTS Proportional EBITDA 805 Refer to slide 32 for further detail Transaction and integration costs associated with STP JV acquisition of the remaining 49% share in Transaction and integration costs 4 WestConnex Proportional net financ
Slide 66: Projects under development or delivery
Projects under development or delivery SPEND 1H22 TO-DATE1 SPEND1 2H22 FY23 FY24 FY25 FY26 COMMITTED PROJECTS / PROJECTS NEW M4 TUNNELS (WCX STAGE 1B)—Sydney—COMPLETE UNDER CONSTRUCTION2 $710M $50M M8 (WCX STAGE 2)—Sydney—COMPLETE $0.9 BILLION4 M4-M5 LINK (WCX STAGE 3A)—Sydney $2,900M $190M WEST GAT
Slide 67: Transurban tax groups—estimated timing
Transurban tax groups—estimated timing Tax group 1H22 EBITDA as proportion FY21 FY22 FY23 FY24 FY25 FY26 FY27 FY28 FY29+ of Transurban Group Timing is indicative only and not shown by month. proportional EBITDA WestConnex 1 6.4% A25 4.6% Currently paying tax: Subject to corporate tax in Canada North
Slide 68: Treasury
Treasury Transurban
Slide 69: Funding structure at 31 December 2021
Funding structure Transurban2 at 31 December 2021 BBB+/Baa1/A- Non-Recourse Corporate Sydney Brisbane North America Working EMTN Capital3 EUR3.3B $2.7B 495 Express 95 Express M22 LCT CCT ED2 M72 M5 West STP TQ2 A25 Lanes Lanes2 Letter of Maple Credit -/A2/- -/A2/- -/A3/A- BBB/-/- BBB-/-/BBB CAD0.7B
Slide 70: Group debt at December 2021
Group debt at 31 December 2021 FACILITY FACILITY FACILITY TOTAL FACILITY TOTAL DRAWN PROPORTIONAL STATUTORY (USD M)1 (CAD M)1 ($M)1 ($M)2 ($M)2 DRAWN ($M)2 DRAWN ($M)3 CORPORATE DEBT Working capital facilities4 - - 2,650 2,650 - - - USPP - - 94 94 94 94 93 EMTN (CAD, NOK and EUR Notes) - 650 5,275 5
Slide 71: Proportional drawn debt by effective currency
Proportional drawn debt by effective currency1 30 JUN 21 31 DEC 21 AUD2 ($M) ($M) MOVEMENT ($M) EXPLANATION Corporate 7,411 7,411 - Additional $2,384 million of proportional drawn debt under WCX Group due to increase in proportional ownership offset by $156 million net proportional decrease due to t
Slide 72: Key debt metrics
Key debt metrics 30 JUN 21 31 DEC 21 TRANSURBAN GROUP CORPORATE NON-RECOURSE TRANSURBAN GROUP CORPORATE NON-RECOURSE Weighted average maturity (years)1,2 7.7 years 7.1 years 8.2 years3 7.4 years 6.7 years 7.9 years4 Weighted average cost of AUD debt1 4.1% 4.4% 3.9% 4.0% 4.4% 3.7% Weighted average co
Slide 73: Extension of total group debt maturity profile
Extension of total group debt maturity profile June 2021 maturity profile1,2 10,000 Existing debt 8,000 refinanced during HY22 $ MILLION 6,000 4,000 2,000 - FY22 FY23 FY24 FY25 FY26 FY27 FY28 FY29 - 31 FY32 - 36 FY37+ December 2021 maturity profile1,2 10,000 New debt raised 8,000 during HY22 $ MILLI
Slide 74: Total corporate debt maturities at December 2021
Total corporate debt maturities at 31 December 20211,2 Working capital facilities USPP EMTN 144A Letters of credit facilities 2,000 1,800 296 1,600 272 1,400 425 833 1,200 $ MILLION 759 1,000 269 800 1,671 1,332 600 1,239 1,000 733 866 400 825 825 706 570 200 94 - FY22 FY23 FY24 FY25 FY26 FY27 FY28
Slide 75: Total non-recourse debt maturities at December 2021
Total non-recourse debt maturities at 31 December 20211,2 TQ ED M2 M5 M7 LCT CCT WCX Group M8 / M5 East M4-M5 Link 495 95 A25 6,000 5,500 5,000 337 218 LCT and CCT are 4,500 expected to commence 4,000 amortisation in the next 5 years 3,500 $ MILLION 2,784 3,000 2,500 609 600 2,000 47 34 800 1,500 1,
Slide 76: Hedging profile of total debt
Hedging profile of total debt Transurban interest rate hedging profile1,2 30 JUN 21 31 DEC 21 Interest rate hedged3 99.8% 99.7% 36,000 Currency hedged4 99.1% 99.0% 32,000 28,000 24,000 20,000 16,000 $ MILLION 12,000 8,000 4,000 - FY22 FY24 FY26 FY28 FY30 FY32 FY34 FY36 FY38 FY40 FY42 FY44 FY46 FY48
Slide 77: Diversified funding sources
Diversified funding sources Total group debt as at 31 December 20212 BANK DEBT AMTN AUD PRIVATE PLACEMENT CAD NOTES EUR NOTES Major funding transactions1 during 1H22: CHF NOTES • $1.2 billion new letter of credit facilities A$ 23,077M NOK NOTES US PRIVATE PLACEMENT USD NOTES (144A) USD NOTES (PABs)
Slide 78: Corporate overview
Corporate overview Transurban
Slide 79: Summarised group structure
Summarised group structure TRANSURBAN HOLDINGS LIMITED TRANSURBAN HOLDING TRUST TRANSURBAN INTERNATIONAL LIMITED CORPORATE ENTITIES ROAD / OPERATING ENTITIES OTHER ENTITIES ROAD/OPERATING ENTITIES CORPORATE ENTITIES Including: Companies operating Including: Companies operating and maintaining roads
Slide 80: Asset portfolio at December 2021
Asset portfolio at 31 December 2021 SYDNEY OVERVIEW M5 WEST2 M2 M43 M83,4 M5 EAST3,6 LCT CCT Opening date Aug 1992 May 1997 Jul 2019 Jul 2020 Dec 2001 Mar 2007 Aug 2005 Remaining concession period1 5 years2 26 years 39 years 39 years 39 years 26 years 14 years Concession end date Dec 2026 Jun 2048 D
Slide 81: Asset portfolio at December 2021
Asset portfolio at 31 December 2021 SYDNEY MELBOURNE NORTH AMERICA 495 EXPRESS 95 EXPRESS OVERVIEW ED M7 NORTHCONNEX CITYLINK A25 LANES4,6 LANES5,6 Opening date Dec 1999 Dec 2005 Oct 2020 Dec 2000 Nov 2012 Dec 2014 May 2011 Remaining concession period1 27 years 26 years 26 years 23 years3 66 years 6
Slide 82: Asset portfolio at December 2021
Asset portfolio at 31 December 2021 BRISBANE GATEWAY LOGAN GO BETWEEN LEGACY OVERVIEW CLEM7 AIRPORTLINK M7 MOTORWAY MOTORWAY BRIDGE WAY Opening date Dec 1986 Dec 1988 Mar 2010 Jul 2010 Jun 2015 Jul 2012 Remaining concession period1 30 years 30 years 30 years 42 years 43 years 32 years Concession end
Slide 83: Future concession assets
Future concession assets1 SYDNEY MELBOURNE M4-M5 ROZELLE WEST GATE OVERVIEW LINK INTERCHANGE TUNNEL Concession end date Dec 2060 Dec 2060 Jan 2045 PHYSICAL DETAILS Length—total 7.5 km 5 km2 17 km Length—surface - - 10.2 km Length—tunnel 7.5 km 5 km2 6.8 km 2x6 on WGF Lanes 2x4 n/a 2x3 on remaining s
Slide 84: Tolling escalation
Tolling escalation MOTORWAY ESCALATION MOTORWAY ESCALATION M2 Tolls escalate quarterly by the greater of quarterly CPI or 1% Tolls escalate quarterly by an equivalent of 4.25% per annum to 30 West Gate Tunnel1 June 2029 and quarterly CPI thereafter LCT Class A tolls escalate quarterly by quarterly C
Slide 85: Notes
Notes Transurban
Slide 86: Near-term interest rate protection notes
Near-term interest rate protection notes Footnotes to slide 6: Near term interest rate protection 2. Based on 1H22 proportional toll revenue by asset excluding Roam Tolling and Tollaust revenue. 3. CPI linked category includes assets where toll prices increase at CPI or at the greater of CPI or a fi
Slide 87: Glossary
Glossary Transurban
Slide 88: Glossary
Glossary TERM DEFINITION TERM DEFINITION 95 95 Express Lanes FFO/DEBT Based on S&P methodology. FFO is calculated as statutory EBITDA (where EBITDA equals 395 395 Express Lanes revenue minus operating expenses, net of maintenance provision) plus dividends from 495 495 Express Lanes investments; minu
Slide 89: Glossary
Glossary TERM DEFINITION TERM DEFINITION M4-M5 M4-M5 Link SLN Shareholder Loan Note. An interest bearing shareholder loan M5 WEST M5 West motorway SPV Special Purpose Vehicle M7 Westlink M7 M8 M8 (previously the New M5) STATE WORKS The capital contribution for WestConnex Stage 3A to be provided by T